ATLANTA, GEORGIA – November 3, 2021 – VISTA RESIDENTIAL PARTNERS has completed the $63.25 million sale of 228 Class A apartment units known as Carmel Vista Apartments. The sale makes history as it breaks the record for highest sale cost per unit in Henry County. The project located in McDonough, Georgia, a rapidly growing Atlanta suburb, opened in February 2021 and stabilized in less than six months. The property has served the pent-up demand in a burgeoning community that has easy access to I-75 and I-285 corridor and immediate access to South Atlanta, providing rapid access to some of Atlanta’s best employment, entertainment, and cultural centers.
“The successful construction and lease-up of Carmel Vista over the past 2 years is a testament to the efforts and hard work of the Vista team and RAM Partners,” commented Michael Neyhart, Managing Director of Vista’s Georgia Division. “RAM opened the doors in early 2021 and leased-up the property in record breaking timing. The rapid success of the project is also proof of the pent up and growing demand for new, Class A rental housing options in the Henry County market.” Trustmark Bank provided Construction financing for the project. A joint venture among RADCO and Blue Vista Asset Management LLC., Eduard de Guardiola’s Family Office, (principal and founder of Vista), provided the equity.
Stellar property performance combined with high caliber unit finishes and top of the line amenities created an ideal opportunity for the buyer, Equus Capital Partners, Ltd., to expand its Atlanta portfolio with the acquisition of another class A asset. Equus Capital Partners, Ltd. is a real estate investment manager with over 40 years of experience in managing a high-quality investment portfolio, through its vertically integrated operating platform, in top tier markets throughout the United States.
VISTA is an Atlanta based real estate investment company with over 20 years of experience specializing in the ownership and development of multi-family housing throughout the Southeast. Vista carefully analyzes the market to create exit strategies for each property based on its highest value and best use. Vista was founded in August 2000 by Eduard de Guardiola and the Georgia division is led by Michael Neyhart – Regional Partner. David Gutting of Newmark represented Vista Residential Partners
in the transaction.